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<br />Management Discussion and Analysis - Continued
<br />April 20, 2005
<br />
<br />Government-wide Financial Analysis
<br />
<br />As noted earlier, net assets may serve over time as a useful indicator ofa government's financial position. In the case of the City,
<br />assets exceeded liabilities by $18,498,850 at the close of the most recent fiscal year.
<br />
<br />By far, the largest portion of the City's net assets (43.2 percent) reflects its investment in capital assets (e.g., land, buildings,
<br />machinery and equipment), less any related debt used to acquire those assets that are still outstanding. The City uses these capital
<br />assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City's
<br />investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must
<br />be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />Summary of Net Assets
<br />
<br />ASSETS
<br />Cash and
<br />temporary investments
<br />Receivables
<br />Accrued interest
<br />Delinquent taxes
<br />Accounts
<br />Special assessments
<br />Intergovernmental
<br />Internal balances
<br />Inventories
<br />Prepaids
<br />Deferred charges
<br />Non-depreciable net assets
<br />Depreciable net assets
<br />(net of depreciation)
<br />
<br />TOTAL ASSETS
<br />
<br />LIABILITIES
<br />Accounts payable
<br />Accrued salaries payable
<br />Contracts payable
<br />Due to other governments
<br />Accrued interest payable
<br />Deposits payable
<br />Unearned revenue
<br />Long~tenn liabilities
<br />Due within one year
<br />Bonds payable
<br />Due in more than. one year
<br />Compensated absences
<br />Bonds payable
<br />
<br />TOTAL LIABILITIES
<br />
<br />NET ASSETS
<br />Invested in capital assets,
<br />net of related debt
<br />Restricted for:
<br />Capital projects
<br />Debt service
<br />Unrestricted
<br />
<br />TOTAL NET ASSETS
<br />
<br />Governmental Activities
<br />2004 2003
<br />
<br />$ 5,822,960
<br />
<br />20,911
<br />103,415
<br />20,326
<br />1,408,036
<br />165,462
<br />(40,000)
<br />
<br />18,149
<br />118,113
<br />3,874,458
<br />
<br />4,453,465
<br />15,965,295
<br />
<br />214,473
<br />28,414
<br />]60,414
<br />3,820
<br />88,892
<br />24,700
<br />
<br />205,000
<br />
<br />5,505,000
<br />
<br />6,230,713
<br />
<br />2,617,923
<br />
<br />4,238,229
<br />2,878,430
<br />$ 9,734,582
<br />
<br />$ 5,125,841
<br />
<br />13,959
<br />90,743
<br />7,078
<br />460,568
<br />4,698
<br />
<br />5,358
<br />11 ,608
<br />
<br />5,462,200
<br />11,182,053
<br />
<br />155,D62
<br />5,645
<br />46,180
<br />3,040
<br />49,443
<br />24,300
<br />14,370
<br />
<br />375,000
<br />
<br />9,477
<br />2,920,000
<br />3,602,5] 7
<br />
<br />2,167,200
<br />
<br />3,095,838
<br />2,3]6,498
<br />$ 7,579,536
<br />
<br />Business-type Activities
<br />2004 2003
<br />
<br />$ 3,013,530
<br />
<br />10,795
<br />
<br />123,046
<br />298,027
<br />
<br />40,000
<br />12,780
<br />
<br />3,297
<br />1,387,134
<br />
<br />4,383,529
<br />9,272,138
<br />
<br />47,830
<br />7,772
<br />33,168
<br />11,307
<br />7,793
<br />
<br />75,000
<br />
<br />325,000
<br />507,870
<br />
<br />5,370,663
<br />
<br />71,631
<br />
<br />6,200,404
<br />$ 8,764,268
<br />
<br />.v-
<br />
<br />$ 3,355,328
<br />
<br />10,112
<br />
<br />119,508
<br />408,255
<br />
<br />11 ,423
<br />
<br />3,957
<br />
<br />4,717,942
<br />8,626,525
<br />
<br />544
<br />798
<br />
<br />12,832
<br />
<br />70,000
<br />
<br />2,418
<br />400,000
<br />
<br />486,592
<br />
<br />4,247,942
<br />
<br />71,631
<br />
<br />3,820,360
<br />$ 8,139,933
<br />
<br />Total
<br />2004 2003
<br />
<br />$ 8,836,490
<br />
<br />31,706
<br />103,415
<br />143,372
<br />1,706,063
<br />165,462
<br />
<br />12,780
<br />18,149
<br />121,4]0
<br />5,261,592
<br />
<br />8,836,994
<br />25,237,433
<br />
<br />262,303
<br />36,]86
<br />]93,582
<br />15,127
<br />96,685
<br />24,700
<br />
<br />280,000
<br />
<br />5,830,000
<br />6,738,583
<br />
<br />7,988,586
<br />
<br />71,631
<br />4,238,229
<br />6,200,404
<br />$ 18,498,850
<br />
<br />$ 8,481,169
<br />
<br />24,071
<br />90,743
<br />126,586
<br />868,823
<br />4,698
<br />
<br />11,423
<br />5,358
<br />15,565
<br />
<br />10,180,142
<br />19,808,578
<br />
<br />29,988,720
<br />6,443
<br />46,180
<br />15,872
<br />49,443
<br />24,300
<br />14,370
<br />
<br />445,000
<br />
<br />11,895
<br />3,320,000
<br />4,089,109
<br />
<br />6,415,142
<br />
<br />71,631
<br />3,095,838
<br />6,136,858
<br />$ ]5,719,469
<br />
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